Boeing announced first-quarter results that exceeded expectations on Wednesday, as the company’s turnaround strategy received a boost from increased deliveries.
In Q1, Boeing achieved $22.2 billion in revenue, up 14% from the previous year and surpassing forecasts of $21.79 billion.
The aviation giant’s adjusted loss per share was $0.20, compared to the expected $0.76.
Boeing reported a negative adjusted free cash flow of $1.454 billion, less than the $2.61 billion expected. Operating cash flow was negative $179 million, a significant improvement over the negative $1.6 billion from a year earlier.
Earlier this month, Boeing announced the delivery of 143 commercial aircraft for the quarter, an increase from the 130 delivered in the same period last year.
Kelly Ortberg, Boeing President and CEO told investors, “We’re building on our momentum with a strong start to the year and growing record-breaking backlog across our business, while supporting our customers with inspiring missions like Artemis II. With a continued focus on safety and quality, we’re delivering high-quality commercial and defense products and services, while increasing production to uphold our customer commitments and get back to the iconic global aerospace company that leads our industry.”
Boeing stock jumped by more than 3% in early trading following the announcement.
By CEO NA Editorial Staff
